The Ivory Coast and Ghana have caused the price slump, due to an excess production of one million metric tons. In Ecuador, despite a production of only 290,000 tons, the crop generates resources for 100,000 families in the rural sector.
The problem is over-supply. There is even talk of a cumulative surplus of more than one million tons, equivalent to 20% of world production. Demand for chocolate also plummeted. The last meeting of the ICCO aimed at mechanisms to correct these defects and to avoid that the price continues falling.